| 15 Apr 2024
MY FM hike advertising rates by 20 per cent

MUMBAI: One more radio station has announced a hike in ad rates this month. DB Corp's MY FM has revealed that it has increased ad rates by 20 per cent. The change will be effective from 2nd March, 2015. This comes after the station increased its ad rates by 25 per cent last April.

The network decided to hike rates due the current inventory crunch and inflation at an overall level, stated the network in their statement. The hike will take place across all 17 cities, spread across seven states simultaneously.

Commenting on the hike, MY FM CEO Harrish M Bhatia said, "We are a strong customer centric organisation and invest a lot in understanding the taste and needs of our customers, this approach has helped in building in a strong differentiated product."

He further added that they enjoy undisputed leadership across all stations and more advertisers want to leverage their leadership position to reach out to target audience. "Our inventory has been peaking and the increase in ad rates is the only way to balance the interest of both, listeners and clients," Bhatia said. MY FM reported a 43.8 per cent growth in operating result in Q3-2015 at Rs 9.44 crore versus the Rs 6.57 crore in Q2-2015 and 11 percent more than the Rs 8.51 crore in the corresponding quarter of 2014. For 9M-2015, MY FM's operating result improved 59.1 percent to Rs 21.28 crore from Rs 13.37 crore in 9M-2014.

He further added "Our markets are growing at an exponential pace and advertisers have realised that radio is the most effective way of reaching out to the audiences. Our advertisers know the value the proposition and differentiated offering we bring to the table."